With the high-flying cannabis sector taking a pause, now is the time for investors to reassess their positions.
A good place to start would be by taking a moment to examine who is guiding cannabis-focused companies. In other words, who is it that is forming a company’s reputation.
Take, for example, high-flying Tilray, Inc. (TLRY). It’s a pioneer in medical cannabis research, cultivation, processing, and distribution. Now it is rapidly staking a strong place in Canada’s soon-to-be legal adult marijuana market.
Looking beyond its world-class research teams, investors will discover Tilray has one of the sector’s most prestigious board of directors.
Tilray’s board includes Rebekah Doop, who is a principal at Google. Then there’s Scotty Greenwood, who was chief of staff sat the U.S. Embassy in Canada, and is now the CEO of the Canadian American Business Council.
Of course, the board itself is not solely responsible for the 400 percent run up since Tilray’s July IPO. Still, it should comfort investors to know Tilray is in such good hands.
Doop and Greenwood are joined on the board by other corporate heavyweights, such as Christine St. Claire, who was a principal and lead audit partner at KPMG; Michael Auerbach, a risk expert who has held senior positions at the Center for American Progress and The Century Foundation, where he concentrated on issues related to U.S. Foreign Policy, National Security, and Conflict Resolution.
Rapid Expansion Into Legalized Pot
Based in British Columbia, Canada, Tilray is global concern. It is the only GMP-certified medical cannabis producer to supply cannabis flower and extract products to tens of thousands of patients, physicians, pharmacies, hospitals, governments, and researchers in 11 countries on five continents.
It’s also perfectly positioned in the heart of Canada’s legalized cannabis industry.
The Prince Edward Island Cannabis Management Corporation recently selected a Tilray subsidiary to supply its adult-use cannabis.
The purchase order will allow its wholly owned affiliate, The High Park Company, to supply PEI’s four cannabis stores and online channels with cannabis products. It’s all in anticipation of the launch of the adult-use market on October 17, 2018.
In all, Tilray has signed agreements to supply adult-use cannabis to consumers in seven Canadian provinces and territories, including British Columbia, Manitoba, Nova Scotia, Ontario, Quebec, the Yukon territory, and the Northwest Territories
Its subsidiary, High Park, is Toronto-based, and is led by a team with deep experience in cannabis and global consumer brands.
Tilray established High Park in order to develop, sell, and distribute a broad-based portfolio of adult-use cannabis brands and products. Its portfolio is uniquely crafted and grown by master horticulturists dedicated to sustainable growing practices.
Tilray’s shares were downgraded Northland Capital, which gave “complex valuations” as the basis of its esoteric reasoning. Tilray’s share price shed nearly 11 percent on the news.
But Tilray is a strong company.
It has a partnership to develop medical products with Sandoz Canada, a division of Novartis (NVS). Tilray also has a relationship with Privateer Holdings and marijuana information website Leafly, along with distribution deals with Shoppers Drug Mart, Pharmasave and various Canadian provinces.
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